5Functions real estate agents and assistant real estate agents may exercise—the Act, s 10A

5 Functions real estate agents and assistant real estate agents may exercise—the Act, s 10A

5 Functions real estate agents and assistant real estate agents may exercise—the Act, s 10A

(1) A real estate agent who holds a class 1 or class 2 licence may exercise all real estate agent functions.

(2) Despite subsection (1), a real estate agent may not authorise the withdrawal of money from a trust account unless the real estate agent is the licensee in charge of the business to which the trust account relates.

(3) An assistant real estate agent—

(a) may exercise all real estate agent functions other than the functions described in the Act, section 3A(2), definition of real estate sale or leasing functions, paragraphs (a) and (b), but

(b) may not, in the person’s capacity as an assistant real estate agent—

(i) enter into a contract for the sale of land, or

(ii) enter into an agency agreement or a franchising agreement, or

(iii) authorise the withdrawal of money from a trust account.